Credit Guide

Effective date: 1 January 2025

About this Credit Guide

This Credit Guide is provided by Better Option Pty Ltd t/a Finance Only (ABN 94 128 086 724), holder of Australian Credit Licence (ACL) 383512. It is required under the National Consumer Credit Protection Act 2009 (NCCP Act) and must be given to you before we provide credit assistance.

Who we are

FinanceOnly is a specialist mortgage broking business. We assist clients to obtain finance for residential and commercial property, including home loans, investment loans, construction finance, SMSF lending, equity release and commercial lending. We do not provide loans ourselves — we act as intermediary between you and credit providers.

Contact: info@financeonly.com.au | 0414 353 856

Credit services we provide

We provide the following credit assistance services:

• Assessing your financial situation and lending needs
• Recommending suitable loan products from our lender panel
• Assisting with loan applications and supporting documentation
• Liaising with lenders on your behalf throughout the approval process

Our lender panel

We work with a panel of over 30 lenders including major banks, non-bank lenders and specialist credit providers. A full list of our approved lenders is available on request. While we recommend products from this panel, we are not restricted to it where it is in your best interest to source a loan elsewhere.

How we are paid

Our services to you are provided at no direct cost. We are remunerated by way of commissions paid by lenders when a loan is settled:

• Upfront commission: typically 0.55%–0.70% (incl. GST) of the loan amount at settlement
• Trail commission: typically 0.15%–0.25% (incl. GST) per annum on the outstanding loan balance

Commission amounts vary by lender and product. We will disclose the specific commission payable for any loan we recommend before you proceed. Commission does not affect the interest rate or fees you pay to the lender.

Our obligations to you

As a holder of an Australian Credit Licence, we are required to:

• Act in your best interests when providing credit assistance
• Not recommend a loan that is unsuitable for your needs and objectives
• Conduct a preliminary assessment of your financial situation
• Provide you with a Credit Proposal Disclosure document before applying for a loan on your behalf
• Maintain professional indemnity insurance

Complaints and disputes

We are committed to resolving any complaints promptly and fairly. If you have a concern:

• Internal: Contact us directly at info@financeonly.com.au. We will acknowledge your complaint within 1 business day and respond within 30 days.
• External: If we are unable to resolve your complaint, you may refer it to the Australian Financial Complaints Authority (AFCA) — free to consumers. Visit afca.org.au or call 1800 931 678.

Privacy

We collect your personal and financial information to provide credit assistance. This information is handled in accordance with our Privacy Policy and the Privacy Act 1988 (Cth). We do not share your information with third parties except as required to provide our services or comply with legal obligations.

Further information

You are entitled to request a copy of the preliminary credit assessment we conduct, free of charge, up to 7 years after we provide credit assistance. To request a copy or for any queries about this guide, contact us at info@financeonly.com.au.